Main Street Monday: Small Business Investment Plans Trail Last Year

October 5, 2026

Bob Coleman
Founder & Publisher

Main Street Monday: Small Business Investment Plans Trail Last Year

38% of small businesses plan to increase investment over the next year, down from 47% a year ago, according to the third-quarter Justworks/U.S. Chamber of Commerce Small Business Index. Investment intentions were unchanged from the previous quarter, even as overall business confidence improved. 

The survey, released September 30, found that 71% of owners describe their businesses as healthy, and 72% are comfortable with cash flow. But owners are much less positive about conditions outside their businesses. Just 27% describe the national economy as healthy, compared with 40% a year ago.

Hiring expectations also trail last year. 36% of owners expect to add employees over the next year, compared with 44% a year earlier. Like investment plans, hiring expectations changed little from the previous quarter.

Inflation remains the leading concern, with 54% identifying it as a top challenge. 

“Many locals are reluctant to make major investments in their homes, property, or buildings,” said Ian MacLean, president of Highland Landscaping in Southlake, Texas, in the report. MacLean described his local economy as fairly strong and attributed the reluctance to general uncertainty.

Healthy borrowers are not always looking for another loan. Owners may be comfortable with cash flow but have no plans to expand. The survey tracks investment plans, not borrowing plans, so it does not tell SBA lenders whether loan demand is rising or falling.

Ipsos surveyed 759 small-business owners and operators August 4–18, 2026. The survey covers businesses with 500 or fewer employees and excludes sole proprietorships.